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Mount Sinai Celebrates the "Topping Off" of New Building at 10 E. 102nd Street

The new residential building at The Mount Sinai Medical Center reached a significant construction milestone.

New York, NY

– May 26, 2011 /Press Release/ ––

The new residential building at The Mount Sinai Medical Center reached a significant construction milestone as hospital officials and construction crews celebrated the "topping off" of the building’s concrete structure 42 stories over East 102nd Street today, between Fifth and Madison Avenues.

Set to open in spring 2012, four of the building’s lower levels will join with Mount Sinai’s new 12-story Center for Science and Medicine (CSM) – which is simultaneously under construction at an adjacent site on Madison Avenue – and add about 40,000 square feet of new space for expansion of Mount Sinai School of Medicine’s state-of-the-art medical research and clinical facilities.

The new residential building, designed by world renowned architect Raphael Pelli, will be topped by 32 floors of residential space comprising 233 rental units. Twenty percent of the building’s rental units have been set aside for low-income rentals at below market rates.

"The research and clinical space located in this building and the Center for Science and Medicine underscores Mount Sinai’s ongoing commitment to bringing critical therapies from bench to bedside," said Dr. Davis. "The fact that 20 percent of the units in the building are set aside as low-income housing also helps to add much needed reasonably priced residential space to the neighborhood.”

"Durst Fetner Residential (DFR) is proud to collaborate with Mount Sinai on this exciting project," said Hal Fetner, CEO of DFR. "10 East 102nd Street is a beautiful addition to New York's skyline and sets a new standards for sustainable construction. The building's breathtaking views, luxurious amenities and distinctive design will make it one of New York's most sought after rental addresses. We are especially proud of the 48 non-market rate units which will add much needed affordable housing to the neighborhood and were made possible by the HFA 80/20 program and 421-A."

The new building will be located 150 feet off 5th Avenue along the south side of 102nd Street. The address will be known as 10 E. 102nd Street. The building will be a LEED Certified Environmentally Green Building and will be a non-smoking apartment building.

The building’s 10th floor will house amenities for residents, including a fitness center, swimming pool, resident lounge areas for entertaining, men’s and women’s locker rooms, media theater, and a wrap-around terrace facing Central Park. The ground floor will also include a children’s play room and bicycle storage area. A three-story, 200-space underground parking garage will be located below grade.

The new building’s developer and project manager is Durst Fetner Residential. DFR is a unique collaboration between two of the most respected development companies in New York Real Estate — The Durst Organization and Sidney Fetner Associates (SFR). DFR’s has extensive experience in highly complex mixed-use development projects in New York City and beyond. DFA provides complete construction supervision on all developments and is especially skilled in managing challenging projects that require structural and complicated design expertise. SFA and The Durst Organization have collaborated on the 458-rental unit LEED Gold Epic and on the LEED Gold 600 rental unit Helena, both in New York, City. DFR has a combined portfolio of owned and self-managed apartments in Manhattan that exceeds 1,600 units, with another 1,200 units in the development pipeline.

About The Mount Sinai Medical Center

The Mount Sinai Medical Center encompasses both The Mount Sinai Hospital and Mount Sinai School of Medicine. Established in 1968, Mount Sinai School of Medicine is one of few medical schools embedded in a hospital in the United States. It has more than 3,400 faculty in 32 departments and 15 institutes, and ranks among the top 20 medical schools both in National Institute of Health funding and by U.S. News & World Report. The school received the 2009 Spencer Foreman Award for Outstanding Community Service from the Association of American Medical Colleges.

The Mount Sinai Hospital, founded in 1852, is a 1,171-bed tertiary- and quaternary-care teaching facility and one of the nation's oldest, largest and most-respected voluntary hospitals. U.S. News & World Report consistently ranks The Mount Sinai Hospital among the nation's best hospitals based on reputation, patient safety, and other patient-care factors. Nearly 60,000 people were treated at Mount Sinai as inpatients last year, and approximately 530,000 outpatient visits took place.